Ooooooh I have a burning hate for this system (the dislike is rational, the burning part is not entirely rational but justified). Way back in high school my AP history teacher not only taught us this (cool, that's part of his job) and checked that we were able to do it (reasonable), he required us to submit notes in this exact format, for every reading, all year, which he graded. After I determined that my comprehension and retention rate went
down as a result of having to constantly interrupt my reading to follow the format, I stopped doing them and he got big mad that I was still doing great on all his tests using my own strategies. With a >90% test average he still gave me a C– in the class and tried to pressure me to cancel my AP exam and take a partial refund for it. I got a 4. (For the non-US folks: that's a 4 on a 5-point scale and generally means it will count for university credit, as indeed it did for me.)
When I visited on a schoolday the next year, he saw me in the hallway and had the tremendous arrogance to ask me to pop into his class and tell them how much the notes helped. I was too unconfident at that point to do more than politely decline to do so, but modern me probably would have accepted the offer and then told the class exactly what I thought of them....
If they work for you, great! But no system is perfect for everyone. Assess what works for you, jettison the stuff that's wasting your time.
ETA: This episode did teach me something very important, which was that as a teacher, when I'm teaching techniques if I think it's important enough I can require students to learn the technique and assess whether they are able to do it, but then I let them decide whether to use it in general or find something better.